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Terms Used In Illinois Compiled Statutes 815 ILCS 205/1

  • Forbearance: A means of handling a delinquent loan. A
     The rate of interest upon the loan or forbearance of any money, goods or thing in action, shall be five dollars ($5) upon one hundred dollars ($100) for one year, and after that rate for a greater or less sum, or for a longer or shorter time, except as herein provided.